OneConnect Financial Technology Co. Ltd. [NYSE: OCFT] traded at a high on 05/24/21, posting a 9.17 gain after which it closed the day’ session at $18.34. The company report on May 19, 2021 that SB Finance partners with OneConnect Financial Technology to roll-out cloud based financial technology.
Consumer lending company, SB Finance Company Inc. has signed a strategic partnership with OneConnect Financial Technology Co., Ltd. (NYSE: OCFT), a leading technology-as-a-service platform for financial institutions and an associate of Ping An Insurance (Group) Company of China, Ltd., to provide Filipinos with greater accessibility to credit and better customer experience in an effort to promote financial inclusion among the masses in the Philippines, where approximately 65 per cent of the population remain unbanked.
Through the partnership, OneConnect will help SB Finance develop an end-to-end omnichannel digital finance platform using OneConnect’s artificial intelligence (AI) and electronic Know-Your-Customer (eKYC) technologies to digitalise loan application, credit-decisioning, fund disbursement and payment acceptance, as well as to mitigate risk exposure while enabling SB Finance to scale their operations, enhance their service capability and widen their reach to serve more Filipinos. The automated and cloud-based platform will be accessible through various platforms such as mobile, web and Agent App. API connectivity accessible to staff, merchants, dealers and customers will also be enhanced.
The results of the trading session contributed to over 1483310 shares changing hands. Over the past one week, the price volatility of OneConnect Financial Technology Co. Ltd. stands at 7.04% while the volatility over the past one month is 5.77%.
The market cap for OCFT stock reached $6.99 billion, with 368.22 million shares outstanding and 235.52 million shares in the current float. Compared to the average trading volume of 462.48K shares, OCFT reached a trading volume of 1483310 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about OneConnect Financial Technology Co. Ltd. [OCFT]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OCFT shares is $22.82 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OCFT stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for OneConnect Financial Technology Co. Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 05, 2020.
The Average True Range (ATR) for OneConnect Financial Technology Co. Ltd. is set at 0.95, with the Price to Sales ratio for OCFT stock in the period of the last 12 months amounting to 12.67. The Price to Book ratio for the last quarter was 8.78, with the Price to Cash per share for the same quarter was set at 1.81.
How has OCFT stock performed recently?
OneConnect Financial Technology Co. Ltd. [OCFT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 20.42. With this latest performance, OCFT shares gained by 20.26% in over the last four-week period, additionally sinking by -8.76% over the last 6 months – not to mention a rise of 30.35% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OCFT stock in for the last two-week period is set at 75.20, with the RSI for the last a single of trading hit 85.26, and the three-weeks RSI is set at 66.90 for OneConnect Financial Technology Co. Ltd. [OCFT]. The present Moving Average for the last 50 days of trading for this stock 15.21, while it was recorded at 16.45 for the last single week of trading, and 19.29 for the last 200 days.
OneConnect Financial Technology Co. Ltd. [OCFT]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and OneConnect Financial Technology Co. Ltd. [OCFT] shares currently have an operating margin of -46.15 and a Gross Margin at +33.23. OneConnect Financial Technology Co. Ltd.’s Net Margin is presently recorded at -40.87.
Return on Total Capital for OCFT is now -18.91, given the latest momentum, and Return on Invested Capital for the company is -26.72. Return on Equity for this stock declined to -27.59, with Return on Assets sitting at -12.69. When it comes to the capital structure of this company, OneConnect Financial Technology Co. Ltd. [OCFT] has a Total Debt to Total Equity ratio set at 48.23. Additionally, OCFT Total Debt to Total Capital is recorded at 32.54, with Total Debt to Total Assets ending up at 23.02. Long-Term Debt to Equity for the company is recorded at 2.63, with the Long-Term Debt to Total Capital now at 1.77.
Reflecting on the efficiency of the workforce at the company, OneConnect Financial Technology Co. Ltd. [OCFT] managed to generate an average of -$54,521 per employee. Receivables Turnover for the company is 3.13 with a Total Asset Turnover recorded at a value of 0.31.OneConnect Financial Technology Co. Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 1.90.
Earnings analysis for OneConnect Financial Technology Co. Ltd. [OCFT]
With the latest financial reports released by the company, OneConnect Financial Technology Co. Ltd. posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at -0.15/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OCFT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for OneConnect Financial Technology Co. Ltd. go to 9.19%.
Insider trade positions for OneConnect Financial Technology Co. Ltd. [OCFT]
There are presently around $1,168 million, or 17.00% of OCFT stock, in the hands of institutional investors. The top three institutional holders of OCFT stocks are: INVESCO LTD. with ownership of 19,885,197, which is approximately -11.06% of the company’s market cap and around 0.26% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 11,569,967 shares of the stock with an approximate value of $212.19 million in OCFT stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $99.82 million in OCFT stock with ownership of nearly 36.148% of the company’s market capitalization.
Positions in OneConnect Financial Technology Co. Ltd. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 46 institutional holders increased their position in OneConnect Financial Technology Co. Ltd. [NYSE:OCFT] by around 8,730,909 shares. Additionally, 23 investors decreased positions by around 6,660,439 shares, while 6 investors held positions by with 48,273,913 shares. The mentioned changes placed institutional holdings at 63,665,261 shares, according to the latest SEC report filing. OCFT stock had 17 new institutional investments in for a total of 1,306,014 shares, while 7 institutional investors sold positions of 3,035,456 shares during the same period.